Loan shark ‘friend’ put me through 8yrs of hell
Mum paid £35,000 in sky-high interest and tried to kill herself
A MUM of five has told how she tried to kill herself after a “friend” fleeced her out of £35,000 in crippling loan shark deals over eight years.
The 44-year-old, known as Becky, first borrowed £50 for school uniforms but repayments rocketed by £100 a week.
She had her benefits snatched as soon as she picked them up.
And if she failed to pay, the shark – who she met after moving – sent texts threatening “the big man is coming”.
The pressure was so great that Becky – who did not have a bank account or a credit rating – twice took overdoses.
Fighting back tears, she said: “This woman came round to say hello to welcome us to the area.
“She seemed nice. She said she could lend me £50, but I’d have to pay back £100 the next week.
“I was desperate and someone was waving cash in my face. Like any parent my kids came first. I had the £50 in 15 minutes. It seemed easy money, but I didn’t realise the dangers.”
Becky paid back £ 100 the next week, then borrowed more – a £200 Christmas loan cost her £400. She said: “At first I paid back on time.
“The first time I was in arrears she added another £150 on top. So you could borrow £50 one week and owe £100 the next. But if you couldn’t pay, it would be £250 in a fortnight, or £400 within three weeks. The most I ever owed was £1,050.
“She was taking hundreds a week off me. It got so bad I had to use foodbanks. On benefits day she would be waiting at the post office for me. I was handing over the child benefit a minute after I’d got it. I’d then have to go back to her for more.
“I relied on her, that’s why she did it. She would text me saying, ‘If you don’t pay, the big man is coming’. Then she would text the kids saying, ‘ Tell your Mam to get in touch or I’m not going to be able to stop them coming’.
“She’d visit t he hous e demanding the money there and then.
“I was terrified of her. She groomed me. I was ashamed I’d got myself into this mess. I didn’t even tell my husband how bad it was. I didn’t want him to walk out. He’d give me money for food and clothes for the children, but it was all going to her.
“I tried to take my life a few times. The police knocked my door down to save my life. I was too scared to tell them why I did it. I’d been warned not to speak to them. This went on for years. I was self-harming, but have that under control now.”
Becky’s problems haunted her from 2009 to 2017. It was only when a local council in the North East threatened to evict her over £2,000 rent arrears that her misery came to light.
ILLEGAL
Her case was then passed to the Birmingham-based England Illegal Money Lending Team.
The 50-strong, governmentfunded unit tackles loan sharks and since 2004 has prosecuted nearly 400 for illegal money lending and related offences such as blackmail, kidnapping, rape, wounding and assault.
They have also written off £75million worth of illegal debt and helped 30,000 victims escape the clutches of sharks.
Becky is one of an estimated 300,000 UK households believed to be using unregulated and intimidating doorstep lenders. Her family has since been rehoused, away from the shark.
Becky does not want to be named for fear of reprisals but is talking about her ordeal to warn other potential victims.
She said: “It may seem easy money, but it causes misery. Don’t give in to temptation. Get help if you need it and if you get into trouble like I did.”
Becky is believed to have paid back as much as £35,000 in skyhigh interest rates over eight years. Investigations into her case are continuing.
Tony Quigley, head of EIMLT, said: “Illegal lenders operate in the ghost economy, causing misery. I urge anyone struggling to look at alternatives such as credit unions and also advise speaking to Citizens Advice.
“We want to reassure victims they have not broken the law . Help and support is available.”
If I didn’t pay on time she sent me texts threatening ‘the big man is coming...’
MUM BECKY REVEALING HER HELL AT HANDS OF LOAN SHARK